1797 $10 Large Eagle AU58 NGC.... Early Eagles

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Lot: 3819
Auction: 1116

1797 $10 Large Eagle AU58 NGC....

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Sold for:	Sign-in or Join (free & quick) (includes BP) Bid Source: HA.com/Live
Ended:	Sep 18, 2008
	Printable Version of Prices Realized for this Auction

Buyer's Premium:	15% of the successful bid (minimum $9.00 per lot)
Auction Name:	*2008 September Long Beach, CA US Coin Signature Auction #1116*
Description:	Heritage Numismatic Auctions offers U.S. and World coins, medals, and tokens in our Signature Auctions & Final Session Sales, held in conjunction with some of the largest numismatic conventions. These sales feature award-winning cataloging and photography. Call or e-mail one of our Consignment Directors to learn about selling through Heritage.
Auction Type:	Signature: Heritage Live: After Internet bidding closes, live bidding will take place through www.HA.com/Live. Your secret maximum bid placed prior to the live event will compete against the live bids. To maximize your chances of winning, enter realistic secret maximum bids on our site. Many of our proxy bidders are successful at winning lots in these auctions, and usually below their secret maximum. You can also place last minute bids directly with us by e-mailing Bid@HA.com or calling 1-866-835-3243. (Important note: Due to software and Internet latency, live bids may not register in time, so enter realistic proxy bids.) This lot is in: Signature Floor Session (Live Floor, Live Phone, Mail, Fax, Internet, and Heritage Live) (lots 1-4546) Internet bidding ends at 10:00PM CT the night before the floor session for this lot. During the live auction event, bidding in person is encouraged, and Heritage Live includes streaming audio and often video during the event.
Item Activity:	6 Internet/mail bidders, 487 page views

Description

1797 $10 Large Eagle AU58 NGC. Breen-6834, Taraszka-8, BD-2, High R.4. The year 1797 was one of transitions, both at the U.S. Mint and in the United States as a whole. George Washington finished his second term, refused to serve a third, and retired to his beloved Mount Vernon. John Adams took up the mantle as our nation's second president. At the Mint, after producing every authorized coinage denomination the year before from the half cent through ten dollar gold, in 1797 the facility came close to doing it again, omitting only quarters entirely from the lineup (and making some other types in minuscule quantities).
But the focus was on redesign. Tennessee joined the Union on June 1, 1796, and some coinage dies had a 16th star added in commemoration. Mint officials realized, however, that they could not continue adding stars for each new state, and the process of reversion to 13 stars began. Some denominations, such as the Draped Bust, Small Eagle half dime, show 15 stars, 16 stars, and 13 stars on different varieties. In gold and silver coinage, Mint Director Elias Boudinot was overseeing the replacement of the original Small Eagle reverse designs by the Large Eagle (or Heraldic Eagle) reverse, as on the present coin. The 1797 Large Eagle ten dollar, while far from a common early gold type, was produced to the extent of an estimated 10,940 coins, or about three times the 3,615 pieces given for the 1797 Small Eagle ten.
On this variety the obverse stars are arranged 10 x 6 on the left and right, respectively. There is a star on the reverse under the eagle's beak, and the eagle's neck ends in a rather abrupt truncation that is not triangular. Stars 3, 9, 10, and 11 on the reverse are nearly in a straight line. On the obverse star 11 nearly touches the Y in LIBERTY. This same obverse die is paired with all three reverse dies known for the 1797 Large Eagle. Two small cracks pass from the rim below the last 7 through that digit and to the lower bust.
This piece offers exuberant luster radiating from the greenish-gold surfaces, which show little actual wear. There are no distracting abrasions, just some extremely light field chatter. Adjustment marks are mostly struck out, although with a loupe the diligent searcher can discern some well-hidden in the lower hair tresses. The reverse die is rotated about 20 degrees clockwise with respect to the obverse. In the present near-Mint State grade, this example should prove to be a superior acquisition for some astute bidder, as an excellent alternative to a lower-Mint State example.(Registry values: P3) (#8559)

Previous Prices from Heritage Auctions
Lot	Date	Grade	Service	Realized
Auction 407, Lot 1388	Saturday, July 8, 2006	58	NGC	$37,375.00
Auction 402, Lot 1970	Friday, April 7, 2006	58	NGC	$37,375.00
Auction 263, Lot 9059	Thursday, May 31, 2001	58	NGC	$9,487.50
Auction 197, Lot 6356	Friday, February 12, 1999	58	PCGS	$14,375.00
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